LINCOLN ELECTRIC HOLDINGS INC acquired Weartech International, Inc. for Not disclosed (annual sales ~$40 million), a transaction completed in March 2012.
Weartech International, Inc. operates in Consumables (specialty alloys), is based in Anaheim, California, USA and Port Talbot, Wales, UK, had revenue of about approximately $40 million annual sales. Weartech International is a privately held producer of cobalt-based hard facing and wear-resistant welding consumables, headquartered in Anaheim, California with manufacturing plants in Anaheim and Port Talbot, Wales; annual sales approximately $40 million and 140 employees combined.
The acquisition continues Lincoln's strategy to expand the breadth of its consumable product portfolio; Weartech is well positioned globally in the specialized cobalt welding consumable market, selling primarily to high-growth energy and process chemical segments.
Specialized cobalt hard-facing/wear-resistant consumables selling into high-growth energy and process-chemical segments. Lincoln Electric consumables
The acquisition of Weartech is a continuation of our ongoing strategy to expand the breadth of our consumable product portfolio to better service our global customer base. Weartech is well positioned globally in the specialized cobalt welding consumable market, selling primarily to the high growth energy and process chemical segments.John M. Stropki, Chairman and CEO, Lincoln Electric
Joining with Lincoln will significantly expand our distribution network and our ability to reach these customers worldwide.Patrick Iyer, President, Weartech
Advisory firms were not disclosed for this transaction.